Fundamental algorithms (panel session): retrospect and prospect

Abstract

How can we explain this discrepancy between the micro and macro pictures? The table on page 2 sheds new light on this paradox by displaying results from a UNU/WIDER study for three countries—Finland, Singapore and South Korea—and comparing them with findings for the United States economy by Daniel Sichel (see the references at the end of this article). All these countries have invested large amounts in IT over the past two decades; computer capital (hardware etc.) has grown at annual rates ranging from 25 per cent in Finland to 40 per cent in South Korea.